Apparel Accessories Market Analysis highlighting Opportunities and Development

Posted by Arslan on March 19th, 2019

The global apparel accessories market is predicted to witness a decline in sales in terms of both value and volume due to the influx of counterfeit products and various other factors. Low consumer confidence about products offered in the global apparel accessories market and ongoing economic concerns in some countries could hamper the demand significantly. Moreover, fast fashion companies are expected to pose some threat to established players in the global apparel accessories market. On the other hand, online retailers are challenging the popularity of these players on the back of aggressive pricing strategies. 

Fact.MR prophesies the global apparel accessories market to rise at a 4.6% CAGR during the forecast period 2017-2022. Among different types of products offered in the global apparel accessories market, handkerchiefs currently secure a nearly 14.0% share in terms of revenue sales. By the end of the forecast period, their sales could be worth a US.2 bn. in the global apparel accessories market. APEJ could be one region that is expected to witness robust sales growth of handkerchiefs in the global apparel accessories market. The Fact.MR report classifies the global apparel accessories market into more segments, viz. hat, gloves, neckties, jewelry, eyewear, scarves, handbags, and belts. 

The winter apparel accessories market is prognosticated to face the brunt of low sales of gloves and woolen scarves because of unexpected climatic changes. By demographics, the global apparel accessories market is segregated into men, women, and children. Among these, the women segment could become highly attractive in the global apparel accessories market. This trend is expected to remain as is throughout the course of the forecast period. The men segment could tread upon the heels of the women segment of the global apparel accessories market in terms of share. 

Changing Trends in Fashion World may Trigger Demand for Apparel Accessories 

The global apparel accessories market is expected to grow at a moderate pace during the forecast period 2017-2022. In a recent year, consumers were observed to spend less on apparel accessories. This resulted in a decrease in retail value and volume sales in the recent past. Apparel accessories could be considered as less essential items due to the shift toward comfortable/casual attire and sportswear. Climatic changes in some parts of the world is projected to have a negative effect on the demand in the global apparel accessories market. For instance, apparel accessories for winter wear may not gain much demand in colder regions with snowless winters. 

However, changing fashion trends could create rewarding opportunities in the global apparel accessories market. 

Highly Seasonal Nature of Sales of Apparel Accessories to Discourage Vendors 

There could be a significant decline in the popularity of apparel accessories as holiday gifts. The sales of apparel accessories may be highly seasonal in the coming years. The reason for this downfall of the global apparel accessories market is that it faces a tough competition from alternative such as footwear, beauty products, gift cards, entertainment products, and even consumer electronics during holiday seasons. 

On the other hand, continuous price inflation is foretold to arrest the growth of the global apparel accessories market in emerging as well as developed countries. Furthermore, low interest in premium-priced products in developing economies because of high price consciousness among consumers could slow down the growth of the global apparel accessories market. Leading companies operating in the global apparel accessories market are prophesied to face challenges due to the presence of fast fashion brands and implementation of aggressive pricing strategies. 

However, changes in lifestyle and the advent of fashion innovations could provide relief to the global apparel accessories market. 

Competitive Landscape 

The authors of the report deeply analyze the business of key players operating in the global apparel accessories market including LVMH Moët Hennessy Louis Vuitton S.E., Kering S.A., Industria de Diseño Textil, S.A., H&M Hennes & Mauritz AB, and Gap, Inc. 

Click here for Free Sample Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=199

Like it? Share it!


Arslan

About the Author

Arslan
Joined: December 18th, 2017
Articles Posted: 13,297

More by this author